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Federal Deposit Insurance Corporation, As Receiver For La Jolla Bank, Fsb v. Danny Tarkanian

November 26, 2012

FEDERAL DEPOSIT INSURANCE CORPORATION, AS RECEIVER FOR LA JOLLA BANK, FSB,
PLAINTIFF,
v.
DANNY TARKANIAN, AN INDIVIDUAL; AMY M. TARKANIAN, AN INDIVIDUAL; JERRY TARKANIAN, AN INDIVIDUAL; LOIS TARKANIAN, AN INDIVIDUAL; GEORGE TARKANIAN, AN INDIVIDUAL; ZAFRIR DIAMANT, AN INDIVIDUAL; JOSEPHINE DIAMANT, AN INDIVIDUAL; DOUGLAS R. JOHNSON, AN INDIVIDUAL; DEBRA JOHNSON, AN INDIVIDUAL; AND DOES 1 THROUGH 100, INCLUSIVE,
DEFENDANTS.



The opinion of the court was delivered by: Hayes, Judge:

ORDER

The matters before the Court are the Motion for Stay or Injunction Pending Appeal (ECF No. 136) and the Motion to Set Aside Judgment (ECF No. 137) filed by Defendants Danny Tarkanian, Amy Tarkanian, Jerry Tarkanian, Lois Tarkanian, George Tarkanian, Zafir Diamant, and Josephine Diamant. Also pending before the Court are the Motion for Oral Argument (ECF No. 153) and Motion to Shorten Time (ECF No. 154) filed by Defendants.

BACKGROUND

On May 6, 2010, Plaintiff FDIC, as receiver for La Jolla Bank, initiated this action by removing the Complaint from San Diego Superior Court pursuant to 28 U.S.C. § 1441(b) and 12 U.S.C. § 1819(b)(2)(B). (ECF No. 1). The Complaint alleged causes of action against Defendants Danny Tarkanian, Amy Tarkanian, Jerry Tarkanian, Lois Tarkanian, George Tarkanian, Zafir Diamant, Josephine Diamant, Douglas Johnson, and Debra Johnson for breach of guaranty on loans for which Defendants were individual guarantors. Id. at 30-48.

A loan in the amount of $14,568,750 was made to Vegas Diamond Properties LLC, which was secured by property owned by Vegas Diamond Properties LLC and personally guaranteed by the named Defendants. Vegas Diamond Properties LLC defaulted on the loan, and its property was sold in non-judicial foreclosure for $3,276,668.73 on March 3, 2011.

On November 21, 2011, Plaintiff filed a Motion for Summary Judgment on the Complaint. (ECF No. 59). On May 4, 2012, the Court granted Plaintiff's motion, finding that the personal guarantees issued by Defendants were absolute, unconditional, and without any defense other than repayment. (ECF No. 104).

On May 22, 2012, the Court entered judgment against Defendants Danny Tarkanian, Amy Tarkanian, Jerry Tarkanian, Lois Tarkanian, George Tarkanian, Zafir Diamant, and Josephine Diamant in the amount of $16,995,005.17. (ECF No. 108). The Judgment stated:

On July 12,2007, La Jolla Bank, FSB loaned $14,568,750 to Vegas Diamond Properties, LLC. Defendants Danny Tarkanian, Amy M. Tarkanian, Jerry Tarkanian, Lois Tarkanian, George Tarkanian, Zafrir Diamant, Josephine Diamant, Douglas Johnson and Debra Johnson personally guaranteed the loan to Vegas Diamond Properties, LLC. Key Bank Real Estate Capital ("Key Bank") is the servicer on the loan to Vegas Diamond Properties, LLC. Attached hereto as Exhibit "A" is an Estimated Statement of Account from Key Bank, dated May 18, 2012, showing a total payoff amount of $16,995,005.17.

Id. The total payoff amount reflected in the Estimated Statement of Account included a $3,276,668.73 credit to Vegas Diamond for the March 2011 sale of the secured property. See Ellis Declaration, ECF No. 138-1.

On June 21, 2012, Defendants Danny Tarkanian, Amy Tarkanian, Jerry Tarkanian, Lois Tarkanian, George Tarkanian, Zafir Diamant, and Josephine Diamant filed an appeal of the May 22, 2012 Judgment to the Ninth Circuit Court of Appeals. (ECF No. 115).

On June 25, 2012 and June 26, 2012, Plaintiff filed applications for writs of execution against all individual Defendants. On June 25, 2012, the Clerk of the Court issued writs of execution for Douglas Johnson and Debra Johnson. (ECF Nos. 122, 123).

On July 5, 2012, Defendants filed a Motion for Stay or Injunction Pending Appeal (ECF No. 136), and on July 10, 2012, Defendants filed a Motion to Set Aside Judgment pursuant to Federal Rule of Civil Procedure 60(b) (ECF No. 137). On July 27, 2012, Plaintiff filed oppositions to Defendants' motions. (ECF Nos. 138, 139). On August 13, 2012, Defendants filed replies. (ECF Nos. 142, 143). On October 16, 2012, Defendants filed a Motion for Oral Argument and a Motion to Shorten Time. (ECF Nos. 153, 154).

DISCUSSION

I. Motion to Set Aside ...


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